Culp (NYSE:CULP) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Culp (NYSE:CULP) in a note issued to investors on Friday. The firm set a “hold” rating on the textile maker’s stock.

Culp Stock Performance

CULP stock opened at $5.48 on Friday. The stock’s 50 day simple moving average is $5.40 and its 200 day simple moving average is $5.38. The company has a market cap of $68.77 million, a P/E ratio of -3.26 and a beta of 1.18. Culp has a fifty-two week low of $4.25 and a fifty-two week high of $6.85.

Insiders Place Their Bets

In other Culp news, insider Mary Elizabeth Hunsberger bought 5,000 shares of Culp stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $5.55 per share, with a total value of $27,750.00. Following the completion of the acquisition, the insider now directly owns 15,000 shares in the company, valued at approximately $83,250. The trade was a 50.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert George Iv Culp bought 8,508 shares of Culp stock in a transaction dated Tuesday, December 10th. The stock was acquired at an average cost of $5.42 per share, with a total value of $46,113.36. Following the completion of the acquisition, the chief executive officer now owns 78,029 shares of the company’s stock, valued at $422,917.18. This represents a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 31,495 shares of company stock valued at $167,062. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

A hedge fund recently raised its stake in Culp stock. Geode Capital Management LLC increased its holdings in Culp, Inc. (NYSE:CULP) by 14.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,825 shares of the textile maker’s stock after acquiring an additional 12,830 shares during the period. Geode Capital Management LLC owned about 0.83% of Culp worth $680,000 at the end of the most recent quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

About Culp

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.